Integrity being such a large part of B1S2 posts, a reminder of B1S2 stats from the ever popular ES Journal. Page 157, ES Journal 2015
If shorts or longs are exited without notice, that alone brings this tally into question. And if it includes the hindsight Squiggles charts of which we've seen so many in this thread (containing so many entries that have to be taken in the middle of the night), the tally becomes meaningless.
For the time being, I'll assume that the 84 short was exited at 80 as an SAR. That still leaves about 70pts in the hole (not including the current 14pt loss).
The problem of course is that even if this "long" were to succeed, he'd still be over 50pts in the red. The SLA trades, on the other hand, which do not have to be taken in the middle of the night if one is trading an hourly interval, are several hundreds points on the plus side.
The SLA is easy to evaluate because it has rules. The Squiggles Method is impossible to evaluate because it doesn't.
Here are the rules that I use in trading my system [as posted by the OP].
1. Keep losses small. (Never risk more than 2% of Total Liquid Net Worth on any one trade/idea.)
2. Let winners run using stops outside the noise.
3. Keep commissions small
4. Don't scale in or scale out.
1. Keep losses small. (Never risk more than 2% of Total Liquid Net Worth on any one trade/idea.)
2. Let winners run using stops outside the noise.
3. Keep commissions small
4. Don't scale in or scale out.
Nothing about entries.
Nothing specific about exits.
Nothing about trade management.
Nothing about risk management beyond "use stops outside the noise", whatever "noise" means, whatever "outside" means. There is of course the caution regarding risking more than 2% of one's TLNW, but without trade management of any kind and with no sense of direction, one is facing a slow bleed until the TLNW amounts to little more than bus fare.
